Weight Watchers (WTW) may help dieters lose weight — but the stock is fattening Oprah Winfrey’s fortune by $70 million in just a day.
Just the word that Winfrey took a 10% stake in the company — buying 6.4 million shares and being awarded options to buy 3.5 million more — caused the stock to more than double to $13.92 a share.
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Winfrey was a massive winner from the one-day spike to the tune of $70 million. However, it’s just a drop in the bucket for Winfrey, who is worth an estimated $3.1 billion, according to Forbes.